Australia shares rise on positive US sentiment; NZ slightly up

Nov 29 (Reuters) - Australian shares rose to their highest in more than 2-1/2 weeks on Wednesday, driven by gains in the financials and resource sectors following a strong lead from Wall Street, which climbed to record highs.

Wall Street surged on Tuesday, led by sharp gains in banking stocks, and boosted by progress for a tax cut bill and strong consumer confidence data.

Mercury NZ Ltd and Fletcher Building Ltd accounted for most of the gains, rising rose 1.2 percent and 1 percent, respectively.

Meanwhile, the Reserve Bank of New Zealand said on Wednesday it would ease restrictions on home loans given the recent cooling in the housing market, which is likely to be dampened further by new government policies.

Real estate stocks were also in black, with Precinct Properties New Zealand Ltd gaining 0.8 percent.